PLANSPONSOR Weekend Newsdash
Week ending August 5th, 2016
Happy Friday, PLANSPONSOR readers! This week, we learned that Millennials do not have confidence they will be able to save $1 million for retirement; however, Fidelity finds Millennials have record account balances. For those of you responsible for open enrollment at your company, the time is drawing near, and Mercer suggests it may be a good time to also promote retirement plans. In addition, two more self-dealing lawsuits were filed this week. All this and more news in this edition of PLANSPONSOR Weekend.
Editor's choice
Benefits
Open Enrollment Not Just About Health Benefits
Mercer experts reviewed open enrollment objectives and recent developments in the health care provider market during a webcast Thursday—suggesting open enrollment can also be a time to address the retirement package.Read more >
Data and Research
Most Millennials View Retirement Savings Goal as Impossible
The majority of working Millennials, 64%, do not think it will be possible for them to save $1 million—frequently cited as a savings target—over the course of their lifetime, according to the Wells Fargo Millennial Study.Read more >
Data and Research
Fidelity Finds Millennial 401(k) Account Balances at Record Levels
Fidelity’s latest retirement analysis reveals its customers have increased their 401(k) balances on average and its Millennial account holders are making record savings.Read more >
Compliance
Neuberger Berman Accused of Self-Dealing in 401(k) Plan
The case calls out one fund in particular, which it says “was larded with high fees and has suffered from consistently abysmal performance.”Read more >
Compliance
Franklin Templeton 401(k) Plan Latest Cited in Self-Dealing Suit
Allegations are similar to a number of other self-dealing lawsuits against fund managers this year.Read more >
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MOST POPULAR STORIES
SECURE Act 2.0 Passed Unanimously by Ways and Means Committee

A rare unanimous affirmative voice vote by the Ways and Means Committee allows the SECURE Act 2.0 to be considered by the full House of Representatives.

2020 Recordkeeping Survey
Forces Come Together to Make PRTs More Attractive

Increased funded status for DB plans and rising interest rates make now a good time for plan sponsors to consider implementing pension risk transfer transactions.

Building Inclusivity Into Employee Benefits

While it’s a crucial step, experts say promoting an inclusive workplace entails more than offering benefits to different employee demographics. 

DC Plan Participants Need More Than Jargon

The way people view and define retirement has undergone a significant philosophical change in recent years, creating a clear and present need to update the defined contribution plan lexicon.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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